Madison Partners is pleased to announce the sale of a 9-property Southern California retail and grocery portfolio. The 92% leased portfolio was comprised of Stater Bros. leased grocery stores and grocery-anchored retail centers throughout the Southern California region. Sold by Madison on behalf of Vornado Realty Trust to three separate investment groups, the offering garnered strong interest from national and local buyers looking for well-positioned NNN-leased retail investments. Predominantly leased by Stater Bros. on a long-term basis, the properties were acquired by Vornado in a pool transaction in 2004. Vornado, one of the leading real estate investment trusts in the U.S., with a portfolio of over 100 million square feet under ownership and management, sold the properties as part of a long-term strategy to re-deploy investment capital into certain key geographic markets and product types.
Bob Safai and Brad Schlaak, of Madison Partners, represented Vornado in this transaction.
